October 15, 2014
DC-based startup Urgent.ly has announced the closing of a pre-Series A round of funding for its roadside assistance service. The company raised $1.2 million in this round of financing and was led by Select Venture Partners.
Select Venture Partners is a new investor in the company. Other participants included current investors Blu Ventures and CIT Gap Funds. According to the company, the new funds will allow the company to further accelerate the growth of its service across the Washington, DC area, as well as to help Urgent.ly expand into other markets. The company has raised a total of $1.8 million in financing to date.
“As we continue to bring much needed speed, transparency and convenience to roadside assistance through our innovative solution, we are thrilled to welcome new investors in Urgent.ly and to see our initial investors strengthen their committent to our vision,” said Urgent.ly cofounder and CEO Chris Spanos, in a statement. “It’s exciting to get the support of and work with such highly experienced and successful partners as we work to grow the company and rapidly expand our service.”
Urgent.ly offers an unprecedented on-demand roadside assistance service that allows consumers to instantly connect with nearby roadside assistance vehicles in real-time. Through its mobile app, users can locate the nearest available help, track how long assistance will take to get to them, and even pay for the flat-rate service directly through their phones. Since closing their seed round earlier this year, the company has developed a network of more than 160 roadside assistance vehicles across the DC-Maryland-Virginia region.
In August of this year, Urgent.ly launched its native iOS app.
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